Commonwealth Bank of Australia Purchases Shares of 714,284 Gemini Space Station, Inc. $GEMI

Commonwealth Bank of Australia bought a new position in Gemini Space Station, Inc. (NASDAQ:GEMI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 714,284 shares of the company’s stock, valued at approximately $7,086,000. Gemini Space Station makes up 1.4% of Commonwealth Bank of Australia’s portfolio, making the stock its 2nd biggest holding.

Several other institutional investors have also recently made changes to their positions in GEMI. Dragoneer Investment Group LLC bought a new stake in shares of Gemini Space Station in the 3rd quarter worth $38,815,000. Altimeter Capital Management LP bought a new stake in shares of Gemini Space Station in the 3rd quarter worth $38,336,000. UBS Group AG bought a new stake in shares of Gemini Space Station in the 3rd quarter worth $31,994,000. Vanguard Group Inc. bought a new stake in shares of Gemini Space Station in the 3rd quarter worth $25,656,000. Finally, Geode Capital Management LLC grew its stake in shares of Gemini Space Station by 1,220.7% in the 4th quarter. Geode Capital Management LLC now owns 484,571 shares of the company’s stock worth $4,808,000 after acquiring an additional 447,881 shares in the last quarter.

Wall Street Analysts Forecast Growth

GEMI has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on shares of Gemini Space Station from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Truist Financial lowered shares of Gemini Space Station from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research note on Tuesday, February 17th. Weiss Ratings upgraded shares of Gemini Space Station from a “sell (e+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Gemini Space Station from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, Citigroup reduced their target price on shares of Gemini Space Station from $5.50 to $4.00 and set a “sell” rating for the company in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.52.

Gemini Space Station Stock Performance

Shares of NASDAQ:GEMI opened at $4.66 on Friday. The company’s 50-day moving average is $4.76 and its 200 day moving average is $7.46. The company has a market capitalization of $555.41 million and a P/E ratio of -1.18. Gemini Space Station, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $45.89.

Gemini Space Station (NASDAQ:GEMI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.03). The company had revenue of $50.27 million for the quarter. The firm’s revenue was up 38.3% compared to the same quarter last year. As a group, research analysts predict that Gemini Space Station, Inc. will post -3.56 earnings per share for the current year.

About Gemini Space Station

Our mission is to unlock the next era of financial, creative, and personal freedom. Gemini envisions a future where crypto will redesign the global financial system, the internet, and money in a way that provides greater choice, independence, and opportunity for all. As a trusted bridge between the traditional financial system and the emerging cryptoeconomy, we are providing access for individuals and institutions to a decentralized future that is more open, fair, and secure. Gemini was founded in 2014 to be the most trusted, secure, and easy way to buy, sell, and store crypto assets.